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Aug 11, 2010
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that's a result of the lack of confidence in the economy and a stalled economy. >> suzanne: in terms of your business, what are you seeing in the way of loan demand this summer? how is it? >> well, loan demand has been, frankly, relatively soft. i know there is a lot of concern about are the banks willing to make loans. i can certainly tell you from bb&t's prove, we're quite eager to make loans, and other banks are as well. but there is not a large demand for loans today. i think people are unclear, uncertain about the direction of the economy, and so they're holding back. so loan demand is not very strong at all. >> suzanne: what about small business lending? we keep hearing stories from all of the small businesses that we go to and they say they're having trouble accessing money to help their small businesses. >> wer making a number of small business loans. we've had a focus in the small business area for a very, very long time. we do an awful lot of small business direct lending. and when clients can't qualify completely on their own, we try to use ot programs to help, particularl
that's a result of the lack of confidence in the economy and a stalled economy. >> suzanne: in terms of your business, what are you seeing in the way of loan demand this summer? how is it? >> well, loan demand has been, frankly, relatively soft. i know there is a lot of concern about are the banks willing to make loans. i can certainly tell you from bb&t's prove, we're quite eager to make loans, and other banks are as well. but there is not a large demand for loans today. i...
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Jul 22, 2010
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economy,america's role in the global economy? >> my biggest concern, i think this should be the fundamental concern of all of us is to make sure that our political system -- that our leaders in washington are able to find ways to work together to solve these problems. they're not going to be solved by democrats alone. they're not going to be solved by republicans alone. >> charlie: not solved by government alone. >> absolutely not solved by government alone but what government has to make sure is the things that only government cans do, they play a central role in educating children -- >> charlie: national security. health care. >> a financial system that we create the basic fabric that allows economies to function well but again, these things require people working together and frankly, stepping back from politics sometimes and finding ways to bring creative solutions to these kind of problems and i think the biggest challenge we face is make sure that we demonstrate that our political system is up to the challenge because these
economy,america's role in the global economy? >> my biggest concern, i think this should be the fundamental concern of all of us is to make sure that our political system -- that our leaders in washington are able to find ways to work together to solve these problems. they're not going to be solved by democrats alone. they're not going to be solved by republicans alone. >> charlie: not solved by government alone. >> absolutely not solved by government alone but what government...
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Nov 18, 2011
11/11
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economy? >> of course it could hurt the economy because if europe goes badly and falls into recession then there will be less demand for u.s. goods and services. also, u.s. banks have some exposure to europe and so to the extent that you're doing badly, there will be some consequences for u.s. banks. although i would say the direct u.s. exposure of u.s. banks to the countries in europe that we're talking about is actually very very modest. we think the european situation is definitely solvable. their fiscal position is certainly no worse than the u.s. the problem is a political one. >>> there's a lot of concern about u.s. banks. do you think u.s. banks can weather a full-blown european crises. >> define full-blown european crises. what i can say is the u.s. banks their direct exposure is quite modest and they're better equipped to manage any type of crises than they were in 2008. they bolstered their capital significantly. they built their loan loss reserves. they have very large liquidity buf
economy? >> of course it could hurt the economy because if europe goes badly and falls into recession then there will be less demand for u.s. goods and services. also, u.s. banks have some exposure to europe and so to the extent that you're doing badly, there will be some consequences for u.s. banks. although i would say the direct u.s. exposure of u.s. banks to the countries in europe that we're talking about is actually very very modest. we think the european situation is definitely...
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Aug 25, 2010
08/10
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economy pushed down oil prices. in new york trading, october futures fell 2% to $71.63 a barrel. >> tom: still ahead, tonight's "word on the street" is "security." james rogers of thestreet.com joins us for a look at some under-the-radar computer security stocks. >> susie: russia's economy is picking up and recovering from the global financial crisis. as we continue our series on investing in the so-called brics-- brazil, russia, india and china-- tonight we focus on russia. its economy grew more than 4% in the first half of this year, after tumbling almost 8% in 2009. i asked about the outlook from evan checkerov, chief economist for russia at bank of america merrill lynch. >> because of the economic growth, there is 5.5% this year. this should be a very good performance relative to many economies, but as far as some emerging market economies like brazil, china, and india, it will not be as good. for example, for china, we expect around 10% growth. for india, 8%. and for brazil, 7%. so the 5.5 g.d.p. growth for rus
economy pushed down oil prices. in new york trading, october futures fell 2% to $71.63 a barrel. >> tom: still ahead, tonight's "word on the street" is "security." james rogers of thestreet.com joins us for a look at some under-the-radar computer security stocks. >> susie: russia's economy is picking up and recovering from the global financial crisis. as we continue our series on investing in the so-called brics-- brazil, russia, india and china-- tonight we...
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May 1, 2012
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economy. he says that an expensive government spending policy has to be the best way forward. he writes about that prescription and more in this book "end this depression now." i am pleased to have paul krugman back at this table. welcome. >> hi, there. >> rose: nice to see you twice in one day. >> that's great. that's great. >> rose: let me begin by talking about the global economy and then solutions. what's interesting about this book is you say it's more about going forward and how we can change things than it is about looking at all the policies that created the mess. >> there are a lot of books, good books, about how things went wrong, about the various mistakes that were made, about the bubble and all of that and a lot of postmortems on policy in 2009. okay, the question now what do we do? that's what this book is. >> rose: let's talk about where are we now? look at the global economy in terms of the united states but also start with sort of europe. >> we had a north atlantic crisis. the
economy. he says that an expensive government spending policy has to be the best way forward. he writes about that prescription and more in this book "end this depression now." i am pleased to have paul krugman back at this table. welcome. >> hi, there. >> rose: nice to see you twice in one day. >> that's great. that's great. >> rose: let me begin by talking about the global economy and then solutions. what's interesting about this book is you say it's more...
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Nov 3, 2021
11/21
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that's concerning in terms of the future of our economy. but that's not because of the fed, so we pay attention to it, it really matters, but in my view, we don't, it's not something we control. >> jacoby: in our conversation, kashkari was also quick to dispute the criticism that the fed is really just boosting financial markets and helping wall street. there is this idea on wall street that the fed kind of has our back and that because you may have well-intentioned policies that are trying to get everybody to work, there is this side effect, this unintended side effect of just, kind of, really helping the rich. >> that argument ignores the benefit to the poor. and if... sure, if you're gonna ignore the benefit to the poor, then we're only helping the rich but, of course, that's an incomplete analysis. when you actually sit down and say, well, let's go through the trade-offs of the choices that the fed has, whether it's interest rates or it's quantitative easing, it's not just about wall street, it's not just about asset prices, it's also a
that's concerning in terms of the future of our economy. but that's not because of the fed, so we pay attention to it, it really matters, but in my view, we don't, it's not something we control. >> jacoby: in our conversation, kashkari was also quick to dispute the criticism that the fed is really just boosting financial markets and helping wall street. there is this idea on wall street that the fed kind of has our back and that because you may have well-intentioned policies that are...
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Nov 3, 2021
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like, what are we going to do in order to restart the economy here? >> jacoby: you voted for antitative easing two. what was your thinking there? >> right, so, my thinking was that we still had an economy that was far from its potential. as qe began, it showed great promise. we started to see that people's sense of economic wellbeing was ticking up somewhat. people were finding jobs, people were finding homes. the foreclosure rate had slowed. so there was a sense that something was working. and for that reason it was, in my mind, worth supporting. >> jacoby: but outsidehe fed, some were saying that the costs of quantitative easing might already outweigh the benefits. >> a lot of talk about quantitative easing, qe2-- the likelihood that that will have a significant effect is close to zero. >> but the markets love it. >> jacoby: joseph stiglitz is one of the most well-known economists in america and a winner of the nobel prize. >> so you're doing a documentary on the fed and monetary policy? >> jacoby: we are trying to. >> (laughing): okay. >> jacoby: a
like, what are we going to do in order to restart the economy here? >> jacoby: you voted for antitative easing two. what was your thinking there? >> right, so, my thinking was that we still had an economy that was far from its potential. as qe began, it showed great promise. we started to see that people's sense of economic wellbeing was ticking up somewhat. people were finding jobs, people were finding homes. the foreclosure rate had slowed. so there was a sense that something was...
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Mar 28, 2012
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you see, it is the economy, the economy, and the economy that's it in that order. >> rose: is healthcare a huge negative for the president? >> i don't know the answer to that. it is a huge negative among many voters whoç hate to see the continued expansion. >> rose: of government. >> of the federal government. >> rose: even though they love their medicare. >> they love it. >> rose: they love their medicare. >> they love it but -- well that isç fine, but obama care is moe than medicare, it has taken over more and more aspects of our national life, and people don't really like that. at least they don't on my side of the aisle. >> rose: why can't -- and do you have a sense that it will change, mitt romney connect with people more than he can? >> well, they used to say that about george h.w. bush and guess what? he was elected president. >> rose: yes. >> and they used to say, they have said it about other candidates. i mean,. >> rose: and it all depends. >> will this election, many, let me say the following two things, one, if it is a referendum on the president his road is tougher than
you see, it is the economy, the economy, and the economy that's it in that order. >> rose: is healthcare a huge negative for the president? >> i don't know the answer to that. it is a huge negative among many voters whoç hate to see the continued expansion. >> rose: of government. >> of the federal government. >> rose: even though they love their medicare. >> they love it. >> rose: they love their medicare. >> they love it but -- well that isç...
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Feb 13, 2016
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others say the economy is saying, no way. today people in the economy camp got a lift. we got data showing the consumer was alive and well last month as retail sales in january were stronger than expected. if stocks are warning recession, steve leishman tells us why the economy isn't playing ball. >> if you could cover one eye and block out the dismal stock market numbers, if you could look only at the economic data, you'd have no idea we're in the middle of some apocalyptic panic. the u.s. economic data has not been great but it's been good. good enough to contradict the view from the stock market that a recession is imminent. retail sales for january were a bit better than expected. helping confirm the early read that first quarter growth would show a modest bounceback from that weak fourth quarter. jobs are up as are wages. unemployment is down. add to that a sterling household credit report from the new york ted showing bankruptcies and foreclosure in the u.s. hit their lowest levels in 2015 in the 13 years the bank has track the it. >> i think the u.s. economy is i
others say the economy is saying, no way. today people in the economy camp got a lift. we got data showing the consumer was alive and well last month as retail sales in january were stronger than expected. if stocks are warning recession, steve leishman tells us why the economy isn't playing ball. >> if you could cover one eye and block out the dismal stock market numbers, if you could look only at the economic data, you'd have no idea we're in the middle of some apocalyptic panic. the...
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Feb 13, 2014
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reform the economy? they need to make it more market oriented they clearly say they want to have more competition with the public sector, with the state capitalism, i was in china a couple of times last year, and i was there just days after their plentum completed the deliberations, i had a chance to talk to them before any world figure that came through town. >> rose: one-on-one conversations? >> one-on-one conversations with the xi ping an and my counterpat and the economic team. you know, they understand that the signals of the need for market reform are all around them. they have inventory that isn't being sold from state owned enterprises and excess capacity in real estate, all of the obvious signs that they need more market forces in order for the economy to grow. they know they need more consumer demand, they know they need a stronger safety met so that people don't feel that they have to save so much that demand is out of their reach. now, how fast they make those changes is a separate question.
reform the economy? they need to make it more market oriented they clearly say they want to have more competition with the public sector, with the state capitalism, i was in china a couple of times last year, and i was there just days after their plentum completed the deliberations, i had a chance to talk to them before any world figure that came through town. >> rose: one-on-one conversations? >> one-on-one conversations with the xi ping an and my counterpat and the economic team....
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Mar 15, 2023
03/23
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. >> ... concerns about the broader economy. >> if we hadn't been driving our economy with easy money trying to really quickly un-do that we wouldn't be having these problems right now. >> americans can rest assured that our banking system is safe. >> narrator: in a special frontline investigation >> we're now facing a world of many potential outcomes. >> narrator: the inside story of an age of easy money. >> every financial function had failed and we had to restore them. >> did you think it was a radical polocy? >> i most certainly did think it was a radical policy. >> ...the fed inject money into the economy... >> ...recent government stimulus programs. >> when the fed changes to the primary engine of economic growth, it's supposed to be our democratic institutions that do that, not the central bank. >> narrator: and an uncertain future. >> pain for american families. >> it's not just that we're getting more calls, it's that the folks who are calling us are in greater distress. >> narrator: correspondent james jacoby investigates. >> how remote is the possibility that there could be
. >> ... concerns about the broader economy. >> if we hadn't been driving our economy with easy money trying to really quickly un-do that we wouldn't be having these problems right now. >> americans can rest assured that our banking system is safe. >> narrator: in a special frontline investigation >> we're now facing a world of many potential outcomes. >> narrator: the inside story of an age of easy money. >> every financial function had failed and we...
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Aug 17, 2019
08/19
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economy. if thes u.s. i doing great but others aren't, the u.s. eventually gets dragged dow the president can be happy now that the chinese are having trouble, and they are b eventually, in a globalized economy, china's problem pecomes ourblem. >> and he doesn't seem to understand what trade deficits are.sn he d understand, at least until the hint this week, when he talked about protecting christmas shoppers, that it's actually americans who pay his passers. and he doesn't understand if germany stops buying america's goods, that hurts us. he seems to take pleasure in everybody else's global woes. i also don't think he's surroupled by good, smart p on the economy. conflicting advice on trade, friction a ang hisisors. and unlike previous presidents, he doesn't have a goo staff or top advisors. oeunsel of economic advisors. he't have real economists advising him. andrea.d analysis from you've been on the ground with the president, in new jersey, at his golf club. what are the tensions inside the
economy. if thes u.s. i doing great but others aren't, the u.s. eventually gets dragged dow the president can be happy now that the chinese are having trouble, and they are b eventually, in a globalized economy, china's problem pecomes ourblem. >> and he doesn't seem to understand what trade deficits are.sn he d understand, at least until the hint this week, when he talked about protecting christmas shoppers, that it's actually americans who pay his passers. and he doesn't understand if...
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Jun 5, 2021
06/21
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but the fact that we borrow so much when the economy is strong, you jeopardize your economy by having a debt that could be growing faster than the overall economy. that's happening now. that means you're vulnerable to not having enough money to borrow when the next crisis comes, which is the time when you really do need to be able to borrow, and it means that you're weaker kind of in a geopolitical sense. we know that right now as competition with china is heating up. yet china owns $1 trillion of our debt and continues to lend money that it makes us more vulnerable in ways that we really don't want to be. whether you're the biggest conservative andou want tax cuts or the biggest progressive and you want big new spending, if your money is going to interest payments, you can't choose between either of those. so it shrinks the pie. and the last thing i would say is if you're borrowing for productive investments, that's one thing. but the history of the debt in this country is that more often than not, we are borrowing just because we don't want to pay the bills. and that's not the right
but the fact that we borrow so much when the economy is strong, you jeopardize your economy by having a debt that could be growing faster than the overall economy. that's happening now. that means you're vulnerable to not having enough money to borrow when the next crisis comes, which is the time when you really do need to be able to borrow, and it means that you're weaker kind of in a geopolitical sense. we know that right now as competition with china is heating up. yet china owns $1 trillion...
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Apr 17, 2014
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economy how do you see the global economy right now? >> well, ironically, it is the developed economies doing better in the emerging world. they're contributing to growth. you have the u.s. picking up this year. europe going from a negative to a positive this year. japan doing okay. whereas a lot of the emerging markets growth has fallen quite a bit in the last few years. and probably will continue to disappoint this year. brazil, less than 2%, russia, probably in recession. india, okay, doing a little bit better but maybe half the growth rate of two or three years ago. so very disappointing. >> all right, thank you as always, for giving such good analysis, we appreciate it. >>> more now on that economic don data from china, showing the latest growth dropping to the lowest in the first quarter. the figures were a tick above the forecast and seen as evidence that the government might stimulate the economy soon. >> reporter: in its first quarter, china's economy grew at its slowest pace in a year and a half. gdp growth came in at 7.4% fro
economy how do you see the global economy right now? >> well, ironically, it is the developed economies doing better in the emerging world. they're contributing to growth. you have the u.s. picking up this year. europe going from a negative to a positive this year. japan doing okay. whereas a lot of the emerging markets growth has fallen quite a bit in the last few years. and probably will continue to disappoint this year. brazil, less than 2%, russia, probably in recession. india, okay,...
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Mar 21, 2012
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economy? history says probably not. >> companies used most of it to basically pay dividends and buy back stocks. >> susie: then, worries that china's red hot economy is cooling down set a sour tone for trading here in the u.s. it's "nightly business report" for tuesday, march 20. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" ispossible by: captioning sponsored by wpbt >> tom: good evening and thanks for joining us. china was the talk of wall street today. investors sold stocks, worrying the world's second largest economy could be slowing down, susie. >> susie: tom, a slowdown in china has been an ongoing concern, but today, there were two fresh reasons for the jitters. china raised prices for gasoline and diesel fuel by as much as 7%, the second price hike in less than six weeks. also, the c.e.o. of bhp billiton, the world's largest mining company, said china's steel production is slowing. the dow fell almost 70 points, the nasdaq and s&p 500 wer
economy? history says probably not. >> companies used most of it to basically pay dividends and buy back stocks. >> susie: then, worries that china's red hot economy is cooling down set a sour tone for trading here in the u.s. it's "nightly business report" for tuesday, march 20. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" ispossible by: captioning sponsored by wpbt >> tom: good evening and thanks...
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Jul 21, 2012
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economy. that's the forecast from tonight's market guest: nick colas, chief market strategist at convergex group. nick, worries about europe have been on the back burner. are we back to worrying about europe again? >> i'm afraid we are. we got that news out of spain this morning which just brings home the fact that the economies of southern europe, spain, italy, obviously greece, are weak, and all the efforts to install austerity are going to make them weaker. so it's on the headlines. >> susie: what do you make of the forecast from spain. how much is it going to spread to other countries in europe? >> well, it certainly was not a great surprise, i think. i think the market took it poorly because it came on a light volume friday. i'm not sure the market was all that surprised that spain is in recession for longer. it's big for the concern of europe policy making, and how much appetite do do the germans have to write large checks to keep the euro zone together. that's the critical political que
economy. that's the forecast from tonight's market guest: nick colas, chief market strategist at convergex group. nick, worries about europe have been on the back burner. are we back to worrying about europe again? >> i'm afraid we are. we got that news out of spain this morning which just brings home the fact that the economies of southern europe, spain, italy, obviously greece, are weak, and all the efforts to install austerity are going to make them weaker. so it's on the headlines....
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Apr 23, 2012
04/12
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india is a large economy. but our per-capita income is $1600 is, you know, is nothing compared to the rich world so when you say that you are going very fast, you must also recognize where we are coming from. there is an enormous amount of poverty t there is an enormous amount of inequality so there are big challenges in emerging economies. i can speak for india, where i come from. you know, india has more poor people than the entire continent of africa. and there is so much of aspiration in the last ten years. so the challenge of growth, the challenge of inclusion is enormous. and the government will have to meets to aspirations. >> rose: what was accomplished by the ecb 1.3 trillion commitment? what did it accomplish and is it as many say simply a holding action. >> well, i think the ecb did the right thing. as a conservative central bank they safeguard financial stability in a crucial moment. so that was a very, very important game change for the european scene. i would hope that the ecb feels that they hav
india is a large economy. but our per-capita income is $1600 is, you know, is nothing compared to the rich world so when you say that you are going very fast, you must also recognize where we are coming from. there is an enormous amount of poverty t there is an enormous amount of inequality so there are big challenges in emerging economies. i can speak for india, where i come from. you know, india has more poor people than the entire continent of africa. and there is so much of aspiration in...
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Jun 23, 2013
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of the global economy. in a statement, the g8 warned that, quote, global economic prospects remain weak. though downside risks have reduced thanks in part to significant policy actions taken, unquote. in the u.s., the euro zone and japan. they depicted 2014 as a quote unquote difficult one with the euro zone in recession and the american economy still hampered by high unemployment. china did not participate in the discussions since china is not a member of the g8 although japan, its neighbor, is. >> why are the economies around the world slowing down. >> because the economies around the world have accumulated too much debt and they don't know how to get the economies moving again. china's growth rate is down to 6 or 5%. no one knows where it's going. exports within the european community are dropping all over the place. virtually every european country -- look at the unemployment rate in spain. it's 26%. you look at italy, france and spain, they're all cass -- basket cases. they have a debt to retail. just
of the global economy. in a statement, the g8 warned that, quote, global economic prospects remain weak. though downside risks have reduced thanks in part to significant policy actions taken, unquote. in the u.s., the euro zone and japan. they depicted 2014 as a quote unquote difficult one with the euro zone in recession and the american economy still hampered by high unemployment. china did not participate in the discussions since china is not a member of the g8 although japan, its neighbor,...
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Aug 24, 2019
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economy. robert: president trump pinballs on policy an lashes out at the fed chair. and china. president trump: we could be greatly helped with the fed would do its job and do a substantial rate cut. whether it's good or bad, short term, is irrelevan we have to solve the problem with china. on guns as he talks with the n.r.a. next in this is "washington week." fundis provided by -- ♪ ♪ >> oh. >> whatever they went through they went through together.el life planned. e what a raymond james financial advisor can do for you. app that uses voice recchogniti logy and teaches conversations. daily 10 to 15 minute lessons are voiced by native speakers and are at babbel.com. >> additional funding provided by koo and patricia yuen, through the yuen foundation,it cod to bridging cultural differences in our community. the corporation for publicin broadc and by contributis to your pbs station from viewers like you. thank you. >> once again from washington, robert: on friday, the trade war raged. china a
economy. robert: president trump pinballs on policy an lashes out at the fed chair. and china. president trump: we could be greatly helped with the fed would do its job and do a substantial rate cut. whether it's good or bad, short term, is irrelevan we have to solve the problem with china. on guns as he talks with the n.r.a. next in this is "washington week." fundis provided by -- ♪ ♪ >> oh. >> whatever they went through they went through together.el life planned. e...
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Nov 13, 2010
11/10
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economy and now china's overheating economy. the dow traded higher in just one session this week ending with a net weekly loss of 251 points or more than 2%. the nasdaq was down in three out of five sessions this week for a net loss of 60 points or almost 2.5%. and the s&p 500 also down 2% losing almost 27 points on the week. material and energy stocks led the way down. investors fear weak demand as china considers raising its interest rates. among the decliners in materials: copper producer freeport mac-moran and fertilizer company c.f. industries in the energy sector anadarko representing the selling there. it could have been worse, but intel helped to stem the selling. shares of the dow component rose 2%. the chip giant is boosting its dividend by 15%, that means the quarterly payout climbs to 18 cents a share, up from 16 and that starts in early 2011. also posting gains: dillards-- the big department store. quarterly profits surged 80% on better inventory management. that meant fewer price cuts heading into the holiday seaso
economy and now china's overheating economy. the dow traded higher in just one session this week ending with a net weekly loss of 251 points or more than 2%. the nasdaq was down in three out of five sessions this week for a net loss of 60 points or almost 2.5%. and the s&p 500 also down 2% losing almost 27 points on the week. material and energy stocks led the way down. investors fear weak demand as china considers raising its interest rates. among the decliners in materials: copper...
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Aug 27, 2011
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slow economy. >> susie: "irene." that's what people up and down the east coast were talking about today. millions are bracing for hurricane irene and preparing for a weekend of violent weather, and even though it was a sunny day here on wall street, the new york stock exchange was busy getting ready for irene. >> reporter: the massive american flag that usually drapes the pillars outside the new york stock exchange has been removed so hurricane irene doesn't blow it away this weekend. sandbags were placed around the building this afternoon. inside the exchange, the big board staff is preparing for the storm, but hoping for the best. lou pastina, n.y.s.e.'s head of floor operations, is hopeful the exchange will open for business as usual on monday morning. >> we'd like to ring that bell over there. >> susie: a final decision will be made over the weekend. art cashin, director of floor operations, at u.b.s. is impressed by the level of preparedness. >> it's better to be prepared than to be fooled. i'd be very happy to
slow economy. >> susie: "irene." that's what people up and down the east coast were talking about today. millions are bracing for hurricane irene and preparing for a weekend of violent weather, and even though it was a sunny day here on wall street, the new york stock exchange was busy getting ready for irene. >> reporter: the massive american flag that usually drapes the pillars outside the new york stock exchange has been removed so hurricane irene doesn't blow it away...
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Sep 22, 2013
09/13
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we all sort of work for this economy. but in reality, the economy is a set of rules. there's no economy in the state of nature. they're rules. i mean, there are rules about property and liability and anti-trust and bankruptcy and subsidies for certain things and taxes for certain things. these rules really are the rules of the game. they determine economic outcomes. if we don't like them, we can change the rules. i mean, if we had a democracy that was working as a democracy should be working, we could adapt the rules so that, for example, the gains of economic growth were more widely distributed without a sacrifice of efficiency or innovation. >> those rules are difficult to explain in writing, much less on film. and yet you and kornbluth do very well at it. let me play an excerpt for our audience to see how you did it. >> of all developed nations today, the united states has the most unequal distribution of income and wealth by far. and we're surging towards even greater inequality. one way of looking at and measuring inequality is to look at the earnings of people a
we all sort of work for this economy. but in reality, the economy is a set of rules. there's no economy in the state of nature. they're rules. i mean, there are rules about property and liability and anti-trust and bankruptcy and subsidies for certain things and taxes for certain things. these rules really are the rules of the game. they determine economic outcomes. if we don't like them, we can change the rules. i mean, if we had a democracy that was working as a democracy should be working,...
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Nov 26, 2014
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without it, it's a 4% economy. this report showed greater strength in consumer spending, and business investment. although foreign trade was even worse than first reported, a sign of weakness overseas having some limited impact on the u.s. economy. >> i would remind people, just a few years ago there was a giant earthquake and tsunami in japan that totally disrupted the global supply chain, really screwed up the global economy for a quarter or two, and the u.s. did not go into recession. >> the key question is whether the u.s. consumer will be in a shopping mood this christmas, and here the numbers weren't so good. consumer sentiment dropped unexpectedly to the lowest level since june. defying forecasts for another upswing. though the economy has been improving, consumers ultimately hold the key to growth, and they remain challenged. >> while it's true that you have a consumer that was a little bit better the reality is the consumer still remains in this very tight band of just north of 2%, and that's been sort of
without it, it's a 4% economy. this report showed greater strength in consumer spending, and business investment. although foreign trade was even worse than first reported, a sign of weakness overseas having some limited impact on the u.s. economy. >> i would remind people, just a few years ago there was a giant earthquake and tsunami in japan that totally disrupted the global supply chain, really screwed up the global economy for a quarter or two, and the u.s. did not go into recession....
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Sep 22, 2010
09/10
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the economy has deteriorated over the summer, they need to see the economy reaccelerate, and if it doesn't reaccelrate fast enough, the fed will act. we se need to see another bad report, and the inflation rate closer to zero. and i don't think treasury bonds would be the only thing they could buy. they can buy mortgag mortgage-backed securities, and since the housing market is still bad. >> susie: let's say that the fed takes action in the way you're talking about, pumping more money into the economy. will it make a difference? will businesses borrow more, spend more, and hire more? will it make a difference? >> nobody knows for sure. we're in uncharted territory. many within the fed system don't think it will make a difference. and there are others who think if it makes 3/10s in a economy that is only go 1%, that's a lot. in that perspective, that's where the chairman is coming from, and he is looking to make even a little difference. if he can make even a little dent in the dmee, that is some progress. and they're mandated by law to try to bring inflation up from what it is at and bring
the economy has deteriorated over the summer, they need to see the economy reaccelerate, and if it doesn't reaccelrate fast enough, the fed will act. we se need to see another bad report, and the inflation rate closer to zero. and i don't think treasury bonds would be the only thing they could buy. they can buy mortgag mortgage-backed securities, and since the housing market is still bad. >> susie: let's say that the fed takes action in the way you're talking about, pumping more money...
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Sep 4, 2010
09/10
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he is going to talk about the economy and jobs and end the week with a press conference on the economy. but the problem, though, there isn't much they can do. they are so constrained by the political climate in washington and concerns about the budget deficit and isn't much you can do in the short-term. and even something like a payroll tax cut is going to be hard to get through. republicans aren't going to be willing to give the democrats a win before election day. and then who knows what happens after november. so, the administration is split about what to do, do they propose something they think would have impact but know can't possibly pass or try and throw a bone to the republican party and say, if you don't vote for a payroll tax cut, it's on your head. gwen: they have two problems, republican party has not interest in accepting bones thrown to it and the people on the left are saying we need more money spent, not just payroll tax cuts. >> right. there is concerns about the -- concerns about the deficit are clouding this. a payroll tax cut would cost a lot of money. and you have
he is going to talk about the economy and jobs and end the week with a press conference on the economy. but the problem, though, there isn't much they can do. they are so constrained by the political climate in washington and concerns about the budget deficit and isn't much you can do in the short-term. and even something like a payroll tax cut is going to be hard to get through. republicans aren't going to be willing to give the democrats a win before election day. and then who knows what...
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Aug 17, 2019
08/19
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the problem here is not the economy. the reason that the markets went crazy this week was because china put out a whole slew of data that showed the econo there i slowing. germany reported that its economy shrank a bit. this is a global problem, not an american pro it washes on to our shores quickly. >> the global an important point. what does your reporting reveal about that? >> the globa slowdown is clearly the effect of a lot of things that have been buiing . also this trade rhetoric and the tariffs from the president, going against canada, going against mexico. he got what he wanted there in this new deal, which hasn't been ratified yet. the fact is, he does not see the interconnections. t also bludgeon the fed, when, as jerry points out, they don't haveoo a kit either anymore really, given how historicallyer low it rates are. more stimulus right now would not really help, butpr the ident doesn't seem to understand that. >> a lot of economists say that being tough on china is not a bad thing that, the chinese do dese
the problem here is not the economy. the reason that the markets went crazy this week was because china put out a whole slew of data that showed the econo there i slowing. germany reported that its economy shrank a bit. this is a global problem, not an american pro it washes on to our shores quickly. >> the global an important point. what does your reporting reveal about that? >> the globa slowdown is clearly the effect of a lot of things that have been buiing . also this trade...
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Oct 23, 2010
10/10
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economy. as we continue our coverage, "mid-term 2010-- it's the economy." we bring you two reports. we begin with diane eastabrook in illinois, where the focus is on regaining thousands of lost manufacturing jobs. >> reporter: shuttered factories have become part of the landscape in rust belt states like illinois. in the last two years, the recession has claimed more than 100,000 manufacturing jobs here. job search boot camps are attracting twice as many displaced workers as they did a year ago. some like craig radcliffe want more help from washington. >> i would think that maybe at a time like this you would want to open up to more ideas and not really worry about how many people think you should do this or that. >> reporter: in illinois, jobs and the economy are central issues in the campaign for the u.s. senate where republican congressman mark kirk is running against democratic state treasurer alexi giannoulias. some illinois manufacturers call this election the most important one in decad
economy. as we continue our coverage, "mid-term 2010-- it's the economy." we bring you two reports. we begin with diane eastabrook in illinois, where the focus is on regaining thousands of lost manufacturing jobs. >> reporter: shuttered factories have become part of the landscape in rust belt states like illinois. in the last two years, the recession has claimed more than 100,000 manufacturing jobs here. job search boot camps are attracting twice as many displaced workers as...
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Jun 5, 2012
06/12
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economy was the last anchor that the global economy had for growth in 2012 and given the sloppy jobs report on friday, and the other rough economic data we can't really rely on the u.s. economy to keep moving forward, against the backdrop we have described in europe and emerging markets. it seems like there is really no place to go for growth this year. so we are calling for a very volatile second half of the year. perhaps not quite as dire as you just outlined but still very tough tez nick, how about the s&p 500. over the past five years it has been a very volatile five years with highs back in '07, lows in 2009, and here we are trying to creep back up to those highs that we fall back a few years ago. do you anticipate the index will be higher or lower at the end of thier. >> i think it will probably be a touch lower but with a lot of volatility around it. we do have a lot of very important catalysts coming up, the greek elections, our own elections, a fiscal cliff that we face, all of which really guarantees volatility without really a lot of resolution. so we are thinking the mark
economy was the last anchor that the global economy had for growth in 2012 and given the sloppy jobs report on friday, and the other rough economic data we can't really rely on the u.s. economy to keep moving forward, against the backdrop we have described in europe and emerging markets. it seems like there is really no place to go for growth this year. so we are calling for a very volatile second half of the year. perhaps not quite as dire as you just outlined but still very tough tez nick,...
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Jan 26, 2012
01/12
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economy to recover. that's what the federal reserve said today, wrapping its two-day policy meeting. policymakers said they would keep interest rates near zero for at least two more years. tom, the fed hopes super-low rates will make it easier for consumers and businesses to borrow money and then spend it boosting growth. >> tom: susie, this timetable is much longer than investors expected. the fed was expected to start raising rates by mid 2013, but a quick look at the fed's economic outlook explains what's behind the change in plans. the central bank described economic growth in the coming months as modest. unemployment as still high and inflation subdued. >> susie: also today, the fed made history by releasing the forecasts of its key policymakers, showing that only a handful want to raise interest rates quickly and most prefer to wait until 2014 or longer. darren gersh reports. >> reporter: for the first time, chairman ben bernanke and his colleagues at the federal reserve laid out their long-run goa
economy to recover. that's what the federal reserve said today, wrapping its two-day policy meeting. policymakers said they would keep interest rates near zero for at least two more years. tom, the fed hopes super-low rates will make it easier for consumers and businesses to borrow money and then spend it boosting growth. >> tom: susie, this timetable is much longer than investors expected. the fed was expected to start raising rates by mid 2013, but a quick look at the fed's economic...
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Mar 30, 2012
03/12
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and yes, if we get it top improve the economy will do better. but i'm not entirely convinced that it's the linchpin to everything that makes the economy recover. >> susie: account fed do anything to repair housing? >> i think some people have come to expect that the fed has all these tools and we can just solve the housing market. we can solve the labor market. we can solve the automobile problems. monetary policy is not a very useful tool for solving a lot of these problems. we're a very blunt instrument. >> i'm sure you hear this all the time that people complain that it's so difficult to get a mortgage or refinance their home even if they have a good credit cord. isn't there anything that the fed can do to encourage banks to lend more? >> we don't want banks making the type of loans they made in 2005 and 2006 because that's what got the banks in trouble. so supervisors are naturally going to say we don't want you to doing that again. so trying to find where the right line is and making good loans available. there's plenty of liquidity out the
and yes, if we get it top improve the economy will do better. but i'm not entirely convinced that it's the linchpin to everything that makes the economy recover. >> susie: account fed do anything to repair housing? >> i think some people have come to expect that the fed has all these tools and we can just solve the housing market. we can solve the labor market. we can solve the automobile problems. monetary policy is not a very useful tool for solving a lot of these problems. we're...
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Aug 17, 2010
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economy, the global economy, the outlook for policy, both monetary policy and from the government. and this is a time to, i think, to stay cool. the economy does not appear to be going back into a renewed recession. we have had a slowdown. the slowdown is continuing. but the economy is not reversing fieldss in our opinion. >> all right, now we are getting alot of economists who are calling for a recession, even a top official in britain said today that the possibility of a double dip recession, you know, is out there. it could be what happen. how are you factors all of those forecasts and the uncertainty into your investing strategys in terms of what you are doing with client portfolios? >> well, number one, susie, we are w we are emphasizing that part of the world which is growing the fastest, and that is asia excluding japan. japan is unfortunately mird again in recession. but the rest of asia developing asia is really developing. and you probably saw the headlines. your viewers saw the headlines this morning. japan is now a smaller economy than that of china. china is growing re
economy, the global economy, the outlook for policy, both monetary policy and from the government. and this is a time to, i think, to stay cool. the economy does not appear to be going back into a renewed recession. we have had a slowdown. the slowdown is continuing. but the economy is not reversing fieldss in our opinion. >> all right, now we are getting alot of economists who are calling for a recession, even a top official in britain said today that the possibility of a double dip...
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Jan 19, 2016
01/16
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economy? >> first, they don't believe the fed, they don't think, you know, what they say is going to happen. that was certainly true right up until the last minute in december when the fed actually delivered a rate hike. there was just an unbelievableability factor. we're in that camp right now, where we have this turbulence from abroad. so we have a lot of factors like oil that are kind of plaguing the minds of people who are doing hiring and things like that. that means a bit of uncertainty for stocks. we're seeing that impact right now, and that feeds into fed policy. from the fed's perspective, they're secting a trajectory. as long as they get that, they'll be -- >> they've move ahead? >> yeah. >> thank you very much. >> thanks. >>> a cooling of the world's second largest economy sends a chill around the globe. the ramifications, next. >>> china has been abarea of concern, fears that the world's second largest economy is slowing rapidly has been sending shockwaves through global markets. t
economy? >> first, they don't believe the fed, they don't think, you know, what they say is going to happen. that was certainly true right up until the last minute in december when the fed actually delivered a rate hike. there was just an unbelievableability factor. we're in that camp right now, where we have this turbulence from abroad. so we have a lot of factors like oil that are kind of plaguing the minds of people who are doing hiring and things like that. that means a bit of...
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Jun 19, 2014
06/14
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>> it was a positive report on the economy and the economy is picking up through the second quarter of the year and will pick up, there is a chance it will grow above trend pace. whey thought was interesting, long-term interest rates came down today and the bond market is complacent here. the fed, although, changes the forecast, it didn't change much what it's doing in the short term but said the individual members said they thought short-term interest rates would be higher in 2015 than '16 than they thought before and ought to push long-term interest rates up and didn't. there is something of a bubble in the bond market at this stage. there isn't a huge bubble, but there is a bubble there and interest rates are too low given the outlook. >> david, i want to follow what you said at the beginning of your answer to tyler's question, this is a positive, good for investors. what is going on in the economy and what janet yellen said, if you're an american out of work and if you're someone who has a job but your paycheck isn't growing much or you're trying to sale your house. what does her c
>> it was a positive report on the economy and the economy is picking up through the second quarter of the year and will pick up, there is a chance it will grow above trend pace. whey thought was interesting, long-term interest rates came down today and the bond market is complacent here. the fed, although, changes the forecast, it didn't change much what it's doing in the short term but said the individual members said they thought short-term interest rates would be higher in 2015 than...
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Jan 31, 2013
01/13
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and germany are strong economies-- the 5th and 7th largest economies in the world-- and they continue to be very significant trading partners, even though their growth rates are stagnant. >> reporter: people move for many reasons-- not just a new job. it could be marriage, or a desire for a warmer climate. but there's no denying migration patterns tell a lot about regional economic differences. so where are workers moving to in the u.s.? >> washington d.c. has been the top destination for several years now. i think that's a reflection of the growth of not only governmental activity in washington, but it's defense contractors, and folks who are there to protect the interests of their company. >> reporter: oregon, nevada, north carolina, and south carolina are also popular places to move. on the other hand, states like new jersey, illinois, west virginia, new york, and new mexico had an exodus of workers. many of those departures are rooted in lack of jobs, high taxes, and expensive housing. economists are pleased to see a pick-up in moving, because it reflects greater job opportunities
and germany are strong economies-- the 5th and 7th largest economies in the world-- and they continue to be very significant trading partners, even though their growth rates are stagnant. >> reporter: people move for many reasons-- not just a new job. it could be marriage, or a desire for a warmer climate. but there's no denying migration patterns tell a lot about regional economic differences. so where are workers moving to in the u.s.? >> washington d.c. has been the top...
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May 17, 2012
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economy. federal reserve policymakers say they're ready to step in with more help if needed. the central bank released minutes from its most recent policy meeting today. they show policymakers are worried the u.s. economy is heading over a fiscal cliff. that cliff is the expiration of tax cuts and the start of deep spending cuts in the federal budget scheduled early next year. darren gersh reports. >> reporter: just like the rest of us, the federal reserve is waiting to see where the economy goes next. at its late april meeting, minutes released today show several members of the fed's policy making committee thought more bond purchases might make sense. "if the economic recovery lost momentum or the downside risks to the forecast became great enough." after the fed's last meeting, only a couple members felt that more so-called quantitative easing might be needed. so what are the risks for the american economy? deeper trouble from europe, for one. or trouble could come from the fed's neighbors
economy. federal reserve policymakers say they're ready to step in with more help if needed. the central bank released minutes from its most recent policy meeting today. they show policymakers are worried the u.s. economy is heading over a fiscal cliff. that cliff is the expiration of tax cuts and the start of deep spending cuts in the federal budget scheduled early next year. darren gersh reports. >> reporter: just like the rest of us, the federal reserve is waiting to see where the...
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Jan 20, 2016
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economy than the u.s. economy means for the rest of the world. but when it comes to financial markets the financial market lynch ands are greater. the u.s. financial market sensitivity to external events. >> worries about china and oil prices can and probably should bring down u.s. stock prices and they have. but it's not entirely clear that should be in a markdown in u.s. growth or worries about recession. since the great recession, these are some of the best times for the u.s. consumer. for "nightly business report," i'm steve liesman. >>> as the obama era comes to an end, there may if reasons to cheer the u.s. economy, after all, it is by most measures in a better place now than it was when the president took office. just how much better or whether it's better at all often depends on one's politics. john harwood joins us from washington. if you listen to the candidates on the right, you would think the economy was in horrible or trump's favorite word terrible shape. if you listen to some people on the far left, you would think it was failing t
economy than the u.s. economy means for the rest of the world. but when it comes to financial markets the financial market lynch ands are greater. the u.s. financial market sensitivity to external events. >> worries about china and oil prices can and probably should bring down u.s. stock prices and they have. but it's not entirely clear that should be in a markdown in u.s. growth or worries about recession. since the great recession, these are some of the best times for the u.s. consumer....
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Mar 6, 2015
03/15
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economy saw factory orders fall for the sixth straight month. the commerce department said new orders from manufactured goods slid 2/10 of a percent, and follows revised 3.5% drop in september. it's softened demand in europe and asia. >>> the labor department will release the febr employmt report tomorrow. according to dow jones, non-foreign payrolls expected to increase 240,000, down a little bit from the previous month. economists are looking for the unemployment rate to fall slightly to 5.6% average hourly earnings expected to bump up 0.2% and there are a few things both wall street and main street will be watching for and hampton pearson knows what they are. >> reporter: bitter wint weathe in much of the country and job losses in the energy sector due to declining oil prices are key reasons why leading economists expect a job growth slowdown in february. nearly 40,000 jobs have been lost in the energy sector in the first two months of 2015. according to a leading job placement firm. >> right now we're seeing in the midst of this expansion on
economy saw factory orders fall for the sixth straight month. the commerce department said new orders from manufactured goods slid 2/10 of a percent, and follows revised 3.5% drop in september. it's softened demand in europe and asia. >>> the labor department will release the febr employmt report tomorrow. according to dow jones, non-foreign payrolls expected to increase 240,000, down a little bit from the previous month. economists are looking for the unemployment rate to fall...
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Jan 16, 2016
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like china and eastern europe from being closed economies to being part of the international economy, it's made it much easier for people to move production to other countries. now what we need to do with trade agreements is first of all level the playing field by reducing the barriers to those markets so we can continue to produce here and export there and secondly raise standards in those countries. right now we compete against low-wage labor all over the world. through this trade agreement and trade agreements like this we can help raise labor standards, raise environmental standards -- >> rose: this seems to be a big deal to the president. >> well, it is. >> rose: it seems to be one of the things he feels is part of his legacy. >> he thinks it's extremely important to the u.s. economy, with 95% of the world's consumers living outside of the u.s. >> rose: 95% of the dman comes from outside the country? >> of the world's consumers. there will be more than 3 approximately middle class consumers in the asia-pacific region alone it's estimated by 2030 and we need to be part of that ec
like china and eastern europe from being closed economies to being part of the international economy, it's made it much easier for people to move production to other countries. now what we need to do with trade agreements is first of all level the playing field by reducing the barriers to those markets so we can continue to produce here and export there and secondly raise standards in those countries. right now we compete against low-wage labor all over the world. through this trade agreement...
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Nov 3, 2011
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in tonight's "how to fix the economy", the governor tells us how his state's economy has outpaced much of the rest of the nation. >> we are benefited by the fact that agriculture is an important part of our economy. i was governor in the 80s when agriculture was the weakes part of the economy, the farm crisis. now we're selling, you know, we have record prices for corn and soybeans, also cattle and hogs are doing well, we're the number one egg producing state. all those things are good. but also we're investing in research and biotechnology, looking for the opportunity toed avalue to what we produce through bio sciences. and also we're strong in the insurance and financial services. >> reporter: in the domestic economy whirlpool announced it's closing a plant in arkansas. whirlpool purchased maytag with the big manufacturing center here in central iowa, which will be getting some of those jobs. >> right, they're going to add 160 jobs. alcoa will be producing more aluminum for the auto industry, they'll be adding a couple hundred jobs, real good manufacturing jobs in deafen part. so we'
in tonight's "how to fix the economy", the governor tells us how his state's economy has outpaced much of the rest of the nation. >> we are benefited by the fact that agriculture is an important part of our economy. i was governor in the 80s when agriculture was the weakes part of the economy, the farm crisis. now we're selling, you know, we have record prices for corn and soybeans, also cattle and hogs are doing well, we're the number one egg producing state. all those things...
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Apr 14, 2012
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economy is doing. >> it should come as no surprise that the u.s. economy is still on shaky ground. yes, things seem to be improving, but not fast enough. >> reporter: for every three steps forward, there seems to be one step back. it's rare to have a consensus about the economic outlook. but surprisingly, most major wall street firms seem to agree that the u.s. economy is growing in fits and starts. >> you'd like to see a little bit more momentum in activity but it's an economy that's showed remarkable resiliency. breakout growth still remains very out of reach. >> growth is moving on at a modest pace or moderate pace but it doesn't look like its going to be accelerating into a stronger range. >> reporter: 2012 began on a generally positive note. consumers were more comfortable spending and businesses had finally started hiring, but a few weeks ago, the issues that weighed on the economy last year resurfaced: recession in europe, slowing growth in china, higher energy prices and continued weakness in housing. >> the housing market there are still a lot of over hang. house prices fe
economy is doing. >> it should come as no surprise that the u.s. economy is still on shaky ground. yes, things seem to be improving, but not fast enough. >> reporter: for every three steps forward, there seems to be one step back. it's rare to have a consensus about the economic outlook. but surprisingly, most major wall street firms seem to agree that the u.s. economy is growing in fits and starts. >> you'd like to see a little bit more momentum in activity but it's an...
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Aug 5, 2010
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economy. manufacturing jobs have continued their decades-long decline thanks to increased competition from overseas. meanwhile the government finds its hands tied by the growing deficit and declining approval ratings. president obama spoke about the challenges ahead in the remarks to the afl-o executive council meeting in washington, today. >> it took us nearly a decade to dig ourselves into the hole that we're in. it's going to take a lot longer than any of us would like to climb out of that hole and i would be lying to you if i thought that all these changes are going to be happening overnight. we've still into the some tough times ahead and your members obviously are bearing the brunt of a lot of those tough times but here's what we're not going to do. we're not going to go back to digging the hole. we're not going to go back to the policies that took bill clinton's surplus and in eight years turned it into record deficits. we're not going back -- we're not going back to policies tasaw peop
economy. manufacturing jobs have continued their decades-long decline thanks to increased competition from overseas. meanwhile the government finds its hands tied by the growing deficit and declining approval ratings. president obama spoke about the challenges ahead in the remarks to the afl-o executive council meeting in washington, today. >> it took us nearly a decade to dig ourselves into the hole that we're in. it's going to take a lot longer than any of us would like to climb out of...
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Apr 10, 2021
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you jeopardize your economy by having a debt, that could be growing faster than the overall economy, that is happening now. that means you are vulnerable to not having enough money to borrow when the next crisis comes. which is the time when you do need to be able to borrow. and it means, that your weaker in a geopolitical sense. we know that right now competition with china is heating up. china owns $1 trillion of our data continues to lend the money, that makes us more vulnerable than ways and we do not want to be. when they were the biggest conservative and want tax cuts, and or the biggest progressive and your big new spending. if your money is going to interest payments you cannot choose between either of those. the last thing i would say come as you are borrowing for productive investments, that is one thing. the history of the debt in this country, more often than not, we are borrowing, because we do not want to pay the bills for that is not the right to hand on a big mountain of debt to the next generation. which is what we are currently doing. herbert hoover famously clipped
you jeopardize your economy by having a debt, that could be growing faster than the overall economy, that is happening now. that means you are vulnerable to not having enough money to borrow when the next crisis comes. which is the time when you do need to be able to borrow. and it means, that your weaker in a geopolitical sense. we know that right now competition with china is heating up. china owns $1 trillion of our data continues to lend the money, that makes us more vulnerable than ways...
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Aug 27, 2010
08/10
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do you think he's going to inspire confidence that he can fix the economy? >> i expect that the expectations susie are too high. as tom said at the beginning of the program this is a very highly anticipated speech by the markets. i think that benn bernanke has enormous pressure to do something he probably can't do and that is provide a magic bullet tomorrow in his speech. i think if anything he's probably being given an unfair test here because if he says something that the markets don't like they could do down a lot but if he doesn't say something with the magic bullet, they could still go down a lot. >> susie: very good insights, thank so much for your thoughts about china and also about the fed. >> thank you. >> susie: and by the way, mike, any disclosures to make on the china fund? >> i own it. i own shares and have for a long time. >> susie: okay, great, thank you. we've been speaking with mike holland of holland & co.. >> tom: tomorrow, we finish our week-long look at emerging markets with our "market monitor." jeff everett from everkey global partners
do you think he's going to inspire confidence that he can fix the economy? >> i expect that the expectations susie are too high. as tom said at the beginning of the program this is a very highly anticipated speech by the markets. i think that benn bernanke has enormous pressure to do something he probably can't do and that is provide a magic bullet tomorrow in his speech. i think if anything he's probably being given an unfair test here because if he says something that the markets don't...